1. Home loan interest rates are still near all-time lows.
2. Homes are selling for far less than they were just 5 years ago.
3. There is always risk in buying any home/investment.
We can't predict when the market will recover, but those who buy a home now are likely to realize sizable gains in years to come. Of course it's impossible to time the market exactly at the bottom... making an informed decision, however, is a factor no matter what.
If you need more information on today's real estate trends, feel free to contact me via my website or 916-838-5752.
Gerri is one of the 1% that saw this market before, and she is right, homebuyers forget the true meaning of home ownership, you have to build equity by paying down your principal, not by relying on your neighbor that hope fully they sell their house $50k more than it's worth for.
The only thing I learned from my old broker is that this is a cycle, it will come back up again. So just like buying stocks, buy low, sell high.
What we do know, however, is that interest rates are low, home prices are down, and there is available tax credits for first-time-homebuyers.
If you are considering buying (or have been looking) there are many good reason to buy now.